Quantbot Technologies LP Sells 4,208 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Quantbot Technologies LP lessened its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 92.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334 shares of the company's stock after selling 4,208 shares during the quarter. Quantbot Technologies LP's holdings in Group 1 Automotive were worth $128,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company's stock valued at $31,000 after acquiring an additional 28 shares during the last quarter. Arizona State Retirement System boosted its holdings in Group 1 Automotive by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 3,832 shares of the company's stock worth $1,139,000 after acquiring an additional 33 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company's stock worth $79,000 after purchasing an additional 39 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Group 1 Automotive by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company's stock valued at $848,000 after purchasing an additional 49 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock valued at $43,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now owns 6,259 shares of the company's stock, valued at $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GPI shares. JPMorgan Chase & Co. raised their price target on Group 1 Automotive from $420.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Guggenheim lifted their price objective on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, Stephens assumed coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Group 1 Automotive currently has a consensus rating of "Moderate Buy" and an average target price of $425.20.

Group 1 Automotive Stock Performance

GPI traded up $2.15 on Friday, hitting $430.55. The company had a trading volume of 80,534 shares, compared to its average volume of 134,744. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $440.32. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 11.47 and a beta of 1.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The company's fifty day moving average price is $387.31 and its 200 day moving average price is $350.63.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $12.07 EPS. The company's revenue was up 11.0% on a year-over-year basis. Equities analysts predict that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive announced that its board has authorized a stock repurchase plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive's payout ratio is presently 5.01%.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.